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Category Archives: Online E-Filing

When it comes to online e-filing, not all options are the same. Choosing the right company to handle your online tax forms is a big decision. You want to ensure that everything is handled in a timely manner and that your forms are all filed properly with the IRS. In order to choose the right tax filing website, you will need to spend some time doing research and understanding what specifically you are looking for help with.

As you go about the process of finding the right company for online e-filing, we invite you to check out the following guide to choosing the ideal service for your needs.

Consider How Many Forms You Need to File

Not all businesses have the same needs when it comes to online tax forms. Perhaps you only need to file a handful of 1099s or maybe you are looking to file hundreds at a time. Not all online filing systems can handle large orders and some are specifically designed for massive corporations.

Ideally, it is wise to find a company that can handle any amount of tax forms, no matter how large or small. This will allow you to continue to utilize the same platform for years to come, even as your business grows. Sticking with one platform will allow you to spend less time in coming years searching for records and documentation.

Make Sure They Handle The Entire Process

Some companies will simply sell you packets of 1099s to download and fill out on your own. Others will allow you to prepare them online, but they can’t handle the actual filing process. Make sure you opt for a company that will cover the process from start to finish. For example, you should be able to fill out the forms online, e-file them with the IRS, as well as have copies sent out to the respective parties.

Choosing a company that handles every step of the process is convenient and time saving, as well as more cost effective than piecemealing it out. Look for a simple, one-stop platform.

Look For Affordable Pricing

Filing hundreds of 1099s can start to add up. Make sure that you look for a company that offers you affordable pricing options if you have numerous forms to file. The less money you can spend on this process the better for your business. Avoid platforms that are designed for massive corporations with higher costs. Many of these platforms have more bells and whistles than you actually need. Don’t waste your money on the unnecessary, instead, look for an affordable platform that meets your basic needs.

Find A Company Backed With Customer Support

Does the company you are considering offer any customer support? While ideally, everything will go smoothly and filing will be an error-free process, it is nice to know there is someone you can reach out to for help in case of an issue. Look for a tax filing service that is backed by customer support. Having support when you need it could mean the difference between missing an important deadline or getting your forms in on time.

Be Sure They Are IRS Approved

Finally, make sure you opt for a company that is backed by the approval of the IRS. This will ensure that your forms are actually received by the IRS in a timely manner. An IRS approved e-file provider can quickly submit your forms, allowing you to rest easy with a greater peace of mind.

Here at OnlineFileTaxes.com, we provide a simple, easy-to-use platform for online e-filing. If you are interested in finding a faster, more effective way to file 1099s, we invite you to sign up for free today. Whether you are filing a couple 1099s or hundreds, our affordable pricing and simple steps will make the entire process less stressful. Reach out today to learn more or visit our Frequently Asked Questions page for more information about our services.

If you are a business owner and you utilize freelancers at any point, you will need to file 1099s before tax season to properly document the payments you have made. A freelancer will then use this 1099 as they go about paying their own taxes. Unlike a regular employee, a freelancer is responsible for paying all the applicable taxes on their income, leaving you without the burden of this cost. While you may benefit greatly from utilizing freelancers, especially during the initial stages of building your business, it is critical that you properly file all necessary 1099s in a timely manner.

The good news is that while this task was once a cumbersome, laborious matter that could only be handled manually through pen and paper, it is now something that can be simplified and streamlined through online e-filing. If you are interesting in utilizing our online platform for filing 1099s for freelancers you employed over the past year, check out the following five reasons why this switch will benefit your company.

#1: Less Paperwork Means Less Risk

When it comes to filing every single tax form necessary, the process can quickly become a chaotic and convoluted mess. The fewer stacks of paperwork you have piling up on your desk the better. By converting over to online e-filing, you can cut down on the risks involved during tax season. It is easy to misplace paperwork, forget to file 1099s, or completely skip steps, such as mailing the 1099 to the freelancer in question when you handle everything the old-fashioned way.

When you e-file 1099s, the process is simple and the risks are mitigated. You fill out the information through a secure online platform. The 1099 is automatically filed with the IRS for you and a copy is sent to the appropriate recipient. Meanwhile, you have access to all the records online and you save yourself from drowning in yet another sea of paperwork.

#2: A Faster Process Equals Money Saved

When it comes to operating a small business, your time is invaluable. The more time you spend sifting through documents and filling out lengthy forms, the less time you have to invest in other valuable assets of your business. In this sense, your time truly is money. When you opt for a faster process in any part of your business, you reap the reward across the business as a whole.

Online e-filing saves you a large amount of time, which means you are saving money by utilizing technology to your advantage. Instead of hours wasted purchasing forms, filling them out, manually mailing them, and manually filing them with the IRS, you can quickly and effectively complete all these steps at once. With this faster process, you free up time that can be utilized for other valuable tasks. The only question that remains— what will you do with all this extra time?

#3: Immediate Filing Prevents Forgetfulness

Do you have a tendency to procrastinate tasks? Many of us struggle to handle things in a timely fashion, which can often lead to forgetting about a task entirely. When it comes to filing 1099s and ensuring they are in the hands of freelancers and contractors by the appropriate deadline, forgetfulness can be a disaster. When you utilize online technology to e-file, everything happens right away. You don’t have to worry about a stack of forgotten papers on your desk that you remember in a panic at 1am while you lie awake in bed.

Through OnlineFileTaxes.com, you can access the forms you need. Fill everything out simply and quickly. Then, once you check out, your forms will be e-filed with the IRS. The appropriate copies will be sent to the right recipients for you as well and everything is accessible for you through your online portal. Because of how simple this process is, you don’t have to panic about forgetting an important step. It is all handled for you in the blink of an eye.

#4: An Online Platform Eliminates The Need For Expensive Software

Let’s face it. There are countless softwares on the market that help with taxes and filing. However, many of these softwares are cumbersome, costly, and extremely difficult to navigate. This can make the process more time-consuming rather than simpler. When you just want to file 1099s for freelancers you utilized, less is actually more. Choosing an online tool, such as OnlineFileTaxes.com, means that you can quickly and efficiently accomplish the task you need to without jumping through a thousand other hoops.

This can also cut out the need for administrative and IT costs associated with 1099 processing. You can handle the task on your own, in a quick fashion, ensuring your freelancers receive their forms on time and you submit your 1099s to the IRS before the January deadline. The best part? It is extremely affordable to file 1099s through our online platform. As an approved e-file provider with the IRS, we take pride in how simple and quick we have made this once cumbersome process.

#5: Happy Freelancers For Future Work

Finally, when you handle filing 1099s for freelancers in a timely and effective manner, you will have happier freelancers. The freelancers who do work for you need to be able to handle their own taxes in a timely manner and by having the 1099s they need in hand, they can finalize their filing as well. This leaves a positive impression on the freelancers you use and builds a professional relationship. If you plan to rehire freelancers in the future for more work, ensuring you provide them with necessary documentation in a professional method will go a long way in incentivizing them to work for you again.

Are you interested in online e-filing for 1099s for freelancers? We can help. Utilize our simple online platform and you can file all the 1099s you need to in one easy place. Whether you are filing a few 1099s or hundreds, our platform will make the entire process simple, smooth, and affordable. Reach out today with any further questions about how online e-filing works.

Also known as the “Wage and Tax Statement,” W-2 Forms are an integral part of tax preparation. Your W-2 shows the amount of taxes withheld from your paycheck in a given year. Whether you’re getting a W-2 for the first time or could use a refresher on the form, keep reading to learn more.

W-2 Wages and Withholding

Be aware that you should only receive a W-2 Form if you are an employee. Should you be self-employed or an independent contractor, expect to receive an earnings statement on a 1099 Form instead. For the sake of this post, let’s focus on a W-2 Form. For one, it’s divided into boxes that report numerous items related to your income. When you first receive a year’s W-2, take a close look at box 1. This is where you will find your annual wage and salary payments with the amount of federal tax withheld from it in box 2.

It’s important to know that since only a fraction of your income is subject to Social Security tax, you may find that box 3 report an amount that’s less than the year’s total wages. Wages subject to Medicare and Social Security taxes can also be found in boxes on the form.

What’s Important About Your Tax Withholding?

Take a close look at your next paycheck. When an employer withholds amounts from your paycheck for federal income taxes, those amounts are remitted to the Internal Revenue Service throughout the year. In turn, the amount your employer reports on the W-2 must be subtracted from your tax bill when you prepare a federal return. It’s at this point when you know whether to expect a refund or make an additional tax payment.

Verifying Your Identity

The IRS expects the income you report on your taxes to match the information on your W-2. If it doesn’t, they will want to know why. What a lot of folks fail to realize is that since the IRS gets a copy of your W-2, it already knows if you owe tax and will likely contact you if you fail to file a return. So don’t stand pat if the name or Social Security number on your W-2 is inaccurate. Report the mistake to your employer as quickly as possible so they can resolve in time for filing.

Common Questions About W-2 Forms

Now that you have some additional background information on W-2 Forms, let’s get into some frequently asked questions.

Who needs to file it? – Any employer engaged in a trade or business that pays remunerations for services performed by an employee must file a W-2.

When is it filed? – An employer must file a W-2 if they paid remuneration, including non-cash payments of at least $600 or they withheld any income, Social Security, or Medicare tax.

What’s the deadline? – The deadline to file your W-2 is the end of February if filing on paper. You have a bit more time if e-filing, however, as the deadline is toward the end of March. Employers should know that they have a January deadline to provide employees with their copies.

What’s the penalty for not filing a W-2? – If a business fails to file a W-2, they can expect heavy penalties to be handed down from the IRS. There’s also a penalty should you not provide recipient copies. As with 1099 Forms, penalties only increase with time. That’s why it’s imperative to file as soon as possible.

How OnlineFileTaxes.Com Can Help

Whether you’re a business owner or independent contractor, you don’t have time to mess around with tax forms. That’s where online e-filing comes into play. OnlineFileTaxes.com allows you to send those necessary forms to the IRS for fast, efficient, and simple filing. For years, we have been utilized by small business owners, CPAs, accounting professionals, and individuals. Our team is proud to offer a variety of filing options for your convenience.

So why use us when there are countless other online tax reporting services? For one, OnlineFileTaxes.com allows you to process any number of forms seamlessly and economically. Not only that, but we eliminate the need for expensive software or unsightly administrative/IT costs associated with year-end 1099 processing.

Whether you want to e-file W-2 forms or start on 1095 filing, we can help. Here are some other online tax forms you can expect to find on our site:

Take it from Linda Quinn, one of our recent customers. She says, “Having missed my payroll services deadline, I had to, at the last moment, go online and search for a company to prepare our 1099’s. I selected OnlineFileTaxes after looking at several sites. I was very happy with the price, timeliness, and the end result. Thanks for a job well done. I may use you again this year.”

Don’t let tax season get you down once again. Let OnlineFileTaxes.com help you take charge. Begin the online e-filing process now.

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Form 1095-B revolves around health coverage. Essentially, it reports the type of coverage you have, dependents covered by your insurance policy, as well as the period of coverage for the prior year. Form 1095-B verifies that you and your dependents have at least minimum qualifying health insurance coverage. If for whatever reason you had a break in health care coverage for the tax year, you may have to pay a tax penalty.Keep reading to learn more about filing Form 1095-B.

Minimum Essential Coverage

Keep in mind there is a minimum level of benefits your insurance must provide for you to avoid paying that tax penalty. Here are the types of insurance that provide such coverage:

Employer-sponsored health plans – These can include coverage for retirees, as well as “COBRA” coverage for former employers.

Government health care plans – Here is where Medicare Part A, Medicare Advantage, Medicaid, the Children’s Health Insurance Program, and other similar plans fall into place.

Coverage purchased through the “Marketplace” – Under the Affordable Care Act, these consist of web-based federal and state insurance markets.

Any individual health insurance policy you had in place before Obamacare took effect.

What to Know About Form 1095-B

There are four parts to this form. Here’s what you can expect with each:

Part I – This identifies the person whose name is on the policy. This would be the name of the employee for an employer-sponsored plan.

Part II – If your coverage happens to be employer-sponsored, this part will identify the employer.

Part III – This section identifies the insurance company who is providing the coverage.

Part IV – This is easily the most extensive part of the form. Part IV lists the people in your household who are covered by the insurance. Be aware that for each name, there is a box that will be checked if the person was covered for all 12 months of the year. If that person wasn’t covered for the entire year, there is a box for each month. Again, there will be a penalty assessed with partial coverage (in the majority of cases).

Why Form 1095-B is So Important

Submitting Form 1095-B is proof that you had coverage required by the Affordable Care Act. But what about the penalties? If you fail to file correct information returns or fail to furnish a correct employee statement, you may be subject to a penalty. Gaps in coverage of three months or less are exempt from the penalty. With that said, the IRS will not impose a penalty for filing incorrect and/or incomplete information if the filer/employer has made the effort to comply with reporting requirements. Those who are uninsured may still be able to avoid a tax penalty if they have an exemption. These are available for several reasons such as financial hardship and membership in certain groups.

As far as the deadline is concerned, you must file Form 1095-B by the end of February. However, if filing electronically, the deadline is the end of March. Employees must be provided their copies by the end of January.

Why Choose Us for Online E-Filing?

OnlineFileTaxes.com is an e-file provider approved by the Internal Revenue Service. With us, you can quickly and easily e-file 1099 forms. Feel at ease knowing that your online files will be electronically sent to the IRS for fast, efficient, and hassle-free filing. Whether you’re a business owner, CPA, accounting professional, or individual, you can reap the benefits of OnlineFileTaxes.com.

There are plenty of e-file options out there. So why choose us? For one, you can easily manage all of your 1099 tax forms with our do-it yourself online service. Why worry about mailing delays and spending countless hours filling out lengthy forms. OnlineFileTaxes.com does the following:

Allows you to process any number of forms seamlessly and economically

Removes the need to buy and complete a myriad of forms

Eliminates the need to invest in any software

Takes away any administrative and IT Costs associated with end-of-year 1099 processing

Prints, mails, and electronically files with the IRS once the forms are completed

Supports uploading Excel files as opposed to manually filling out forms and being more susceptible to making a mistake

How to E-File

Take your pick between three convenient options:

E-File + print + mail – Let us take care of your e-filing needs with the IRS. We will also print and mail (or e-deliver) copies to recipients.

E-file only – Maybe you have already provided copies to your recipients and just want us to report to the IRS. If that’s the case, this is the ideal choice.

Print and mail only – Allow us to print and mail recipient copies. It could be that you have previously submitted information to the IRS but want us to provide recipient copies. In this instance, this third option makes the most sense.

Whether you want to e-file W-2 Forms, 1098-MA, 1095-C, or 1095-B, we can help. Get started e-filing today.